A Consortium Announces A Firm Intention To Acquire Alviva Holdings
A Consortium Announces A Firm Intention To Acquire Alviva Holdings. A consortium of investors consisting of Tham Investments, Mr. P Ramasamy, Day One Asset Management and certain members of Alviva management (collectively referred to as “the Consortium”), whose interests are represented by Fonzosys (Pty) Ltd (“BidCo”), and Alviva have entered into an implementation agreement.
BidCo expressed its firm intention to make a binding offer on the terms and conditions set out in this announcement to acquire all the Alviva shares not already owned by BidCo. The Offer will be implemented by way of a single composite transaction comprising: A cash offer of up to R2.562 billion by Bidco to acquire all of the Alvivas shares that are not owned by bidCo for a purchase consideration of R28.00 per Alviva share.
The proposed transaction will result in Alviva becoming a majority black-owned, privately held, information and communications technology champion, repositioning the company to drive the strategic direction of the business for future growth and expansion and also allows Alviva shareholders to exit for a cash consideration that is at a substantial premium to the closing price prior to the receipt of the EOI.
Alviva Holdings is one of Africa’s largest providers of information and communication technology products and services. The company is made up of eight key companies who specialise in several countries around the world.
